The following 2016 information is available for Stewart Company:

Condensed Income Statement for 2016
Sales		$9,000
Cost of goods sold		(6,000)
Other expenses		(2,000)
Loss on sale of equipment		(260)
Gain on sale of land		400
Net income		$1,140

		Comparative Balance Sheets
		December 31, 2015		December 31, 2016
Cash		$700		$1,130
Accounts receivable		450		310
Inventory		350		400
Land		300		500
Equipment		1,600		1,800
Less: Accumulated depreciation		(200)		(150)
Total Assets		$3,200		$3,990
Accounts payable		$600		$750
Bonds payable (due 1/1/2018)		1,000		1,000
Common stock, $10 par		900		1,400
Retained earnings		700		840
Total Liabilities and Shareholders' Equity		$3,200		$3,990

Partial additional information:

• The equipment that was sold for cash had cost $400 and had a book value of $300.
• Land that was sold brought a cash price of $530.
• Fifty shares of stock were issued at par.

Required:

Making whatever additional assumptions that are necessary,

1. Prepare a spreadsheet to support a 2016 statement of cash flows for Stewart. If an amount is zero, enter "0".

STEWART COMPANY
Cash Flows Worksheet
For Year Ended December 31, 2016
	Balances 12/31/2015	Balances 12/31/2016	Balances Change	Worksheet Entries Debit	Worksheet Entries Credit
Debits
Cash
Noncash Accounts:
Accounts receivable
Inventory
Land
Equipment
Totals
Credits
Accumulated depreciation
Accounts payable
Bonds pay. (due 1/1/2021)
Common stock, $10 par
Retained earnings
Totals
Cash Flow From Operating Activities
Net income
Add: Decrease in accounts receivable
Add: Loss on sale of equipment
Add: Depreciation expense
Add: Increase in accounts payable
Less: Increase in inventory
Less: Gain on sale of land
Cash Flows From Investing Activities
Proceeds from sale of land
Payment for purchase of land
Proceeds from sale of equipment
Payment for purchase of equipment
Cash Flows From Financing Activities
Proceeds from issuance of common stock
Payment of dividends
Net increase in cash
Totals				$	$

2. Prepare the statement of cash flows. Use the minus sign to indicate cash outflows, a decrease in cash or cash payments.

STEWART COMPANY
Statement of Cash Flows
For Year Ended December 31, 2016
Operating Activities:
	$
Adjustment for noncash income items:
Adjustments for cash flow effects from working capital items:
		$
Investing Activities:
	$
Financing Activities:
	$
		$
Cash, January 1, 2016
Cash, December 31, 2016		$